Two-Unit Residential
For Sale
$457,500
1025 S 1st St, Louisville, KY 40203
Separate apartments include a two-bedroom lower residence and a three-bedroom upper residence.
Property Size2,975 SF
Price / SF$153.78
Days on Market13
Property Features for 1025 S 1st St
General Information
Standard status
Active
Size
2,975 SF
Property subtype
Residential Income
Listing Agency:
Totally About Houses
Listed By:
DeAnndra Mason
(502) 306-3580
Source:
Exprealty
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 5 at 8:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Totally About Houses
Investment Insights
Based on property information with market context.
This 2,975-square-foot duplex has two apartments: a 2-bedroom, 2-bathroom unit on the lower level and a 3-bedroom, 2-bathroom unit above. The upper apartment is occupied under a lease that transfers to the new owner. Remodeling and ongoing upkeep are noted throughout the property. A 671-square-foot unfinished basement has spray foam insulation and a protective coating; the attic is insulated and lit.
Outdoor features include a landscaped backyard, a deck serving the upper apartment, and a patio for the lower unit. Rear parking and on-street parking at the front are available. The property is at 1025 S 1st St in Louisville, close to downtown amenities.
Outdoor features include a landscaped backyard, a deck serving the upper apartment, and a patio for the lower unit. Rear parking and on-street parking at the front are available. The property is at 1025 S 1st St in Louisville, close to downtown amenities.
Key Highlights
- 2,975 square feet with two separate apartments
- Lower unit: 2 bedrooms and 2 bathrooms; upper unit: 3 bedrooms and 2 bathrooms
- Upper apartment is leased, with the lease transferring to the new owner
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,032
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,640
$500.6K
Cap Rate 7%
$357,600
$357.6K
Cap Rate 9%
$278,133
$278.1K
Market Conditions
NOI Build-Up for 2,975 SF
Gross rent
$37.8K $12.72/SF
− Vacancy
−$2.1K −$0.70/SF
EGI
$35.8K $12.02/SF
− OpEx
−$10.7K −$3.61/SF
NOI
$25.0K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,640
Cap Rate 7%
$357,600
Cap Rate 9%
$278,133
Alternative Uses
Best Use
Multifamily LT 5
$357.6K
$312.9K – $417.2K
NOI $25,032 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$289.2K
$253.1K – $337.4K
NOI $20,246 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$771.1K
$674.7K – $899.6K
NOI $53,978 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,808
Businesses Nearby
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments include a two-bedroom lower residence and a three-bedroom upper residence.
Where is this duplex located?
The property is located at 1025 S 1st St Louisville, KY.
What is the asking price?
The asking price for this property is $457,500.
What are key features of this property?
This property features: 2,975 square feet with two separate apartments; Lower unit: 2 bedrooms and 2 bathrooms; upper unit: 3 bedrooms and 2 bathrooms; Upper apartment is leased, with the lease transferring to the new owner
